150 Expense TIPS Challenge #45 Here are three top rewirement planning tips you need to know. I do not like the word “retire.” There are now so many different ways that people transition. Full blown retirement is not always all it is cracked up to be especially if you find that your financial income sources are not sufficient and/or your non- financial life is not giving you satisfaction.
Three rewirement tips to consider:
1. Seek advice, get educated not just financial planning but life planning. A workshop like the upcoming Transitions workshop at Mount St. Vincent University, October 19 will offer tremendous insight.
2. Understanding the ability to retire on what and when if necessary is vital. Taking stock is valuable. Understanding my “physics of financial planning” will help. It all starts with cashflow!
3. Clear understanding of your savings and investments is important but so is general consumption. Do you spend beyond your means? Have you thought about “minimalism?” It works and acts as a major stress reducer too.